"He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system."

A slap in the face of all the free market fanboys that happily explained how letting Lehman fail -- because it would constitute a moral hazard wasting taxpayers' money -- will not lead to a global financial meltdown.

"He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system."

A slap in the face of all the free market fanboys that happily explained how letting Lehman fail -- because it would constitute a moral hazard wasting taxpayers' money -- will not lead to a global financial meltdown.

Yeah because allowing companies run THAT poorly to survive would be such a benefit for the rest of society. I forgot...when your company is bankrupt and insolvent that means they're doing a wonderful job and really should be allowed to stick around.

"He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system."

A slap in the face of all the free market fanboys that happily explained how letting Lehman fail -- because it would constitute a moral hazard wasting taxpayers' money -- will not lead to a global financial meltdown.

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While I agree that if you bail out one you have to bail them all out I hope you are not insinuating that the free market is what really got us to this situation.

Soros saw no bottom a while ago imo which is why he backed a charismatic mouthpiece for big Government from which Mr Soros and other 'close persons' will benefit hugely in terms of wealth and influence.

I think an overnight nationalization and then an orderly wind-off (Neuberger Berman, the real estate assets, the European brokerage arm -- which had 10s of billions of assets frozen and liquidated overnight, with account holders being wiped out to a big fat zero) of all Lehman assets would have gone a long way.

The matter of the fact is that the lessez-faire crowd told us letting Lehman fail will be "good showing that the government takes moral hazard seriously". How come I don't hear that moral hazard argument much anymore?

And they told us letting Lehman go was "part of a self-cleansing solution for world markets". Where did that argument go?

Soros is a stool pigeon for the mega elite, obviously he knows a thing or two.

Just like his short oil call at $140, and long gold call at the same time even though gold fell a bit but only by a fraction compared to all the other commodities, and has now fully recovered and will probably post new highs soon enough.